Economics

Most expensive cities in the world

According to the Economist Intelligence Unit these are the cities mentioned below that ties for the highest cost of living.

Paris: In addition to being home to the sparkling champ-Elysees, Eiffel Tower and Louvre, France’s iconic capital Paris is also the world’s second most expensive city with a cost of living that rate 104.

Tel Aviv: According to EIUs top ranked cities Tel Aviv which is also known as the sun-soaked city on Israel’s Mediterranean ranks for the first time in terms of high cost living.The living score of this city is 106, due in large part to the strength of Israeli Shekel against the US dollar, climb from its spot at number 5 in the year 2020.

Singapore: This city has been heralded for its impeccably clean streets along with buildings, but somehow it turns out that cost of living is quite high due to which it is recognised as an immaculate city that comes at price. The metro tied with Paris makes it the most expensive city of Southeast Asia.

Zurich: City with a mountain-bound location on Lake Zurich, makes the city expensive as well as beautiful at the same time and resulting in a cost of living rate of 103.

Hong-Kong: Mostly considered as a Chinese “Special administrative region” as the city is still evaluated amongst the world’s biggest or expensive metros. Hong Kong is one of the places where gas prices were high in the year of 2021 with an average cost of 2.50 per litre.

New York: This is the most expensive city and acts as the benchmark for the survey wherein New York city has been given an index score of 100. Due to the high price tag from groceries to gas the city has held a spot on the list for a very long time.

Los Angeles: Best place for many beach lovers and aspiring actors but cost of living is quite high in this sprawling Southern California. Los Angeles stands at number 9 with a score of 96 a little less than NYC when it comes to cost of living.

Copenhagen: This water-bound city scored 97 in 2021 as per cost of living report. The city is mostly apt to hop on a bike than jumping in the car through which you can assume the level of petrol price and transportation in Copenhagen.

Plenty of perks like good food, job opportunities but all comes at a price. Don’t expect any kind of bargain, cheap rent or affordable gas prices in these metropolitan cities.

Elisa Ghosh

Young at heart, independent by nature, rolling down straight from the hills of Meghalaya. I get my adrenaline rush writing about facts and myths happening around. You’ll find me spending most of my time either dreaming about food or the mountains. Here to make net surfing more enticing for you!
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